Practical pitfalls of quick fixes

An amendment to the VAT Act implementing long-awaited changes to the intracommunity supply of goods (quick fixes) entered into effect on 1 September 2020. We may already comment on the first practical implications for taxpayers and on solutions to…

Brexit: What will happen to social security and health insurance in 2021?

The end of 2020 will also bring the end of the transition period under the Agreement on the Withdrawal of the UK from the EU. During the transition period between 1 February 2020 and 31 December 2020, the United Kingdom is being treated as if it…

Calls to OP EIC attract interest; other calls are to be announced

Below we provide an overview of open calls within the Operational Programme Enterprise and Innovations for Competitiveness (OP EIC) and their current status. A new call within the Infrastructure Services programme has been announced and other calls…

Coordination Committee: When can the sale of real property be treated as losing…

The Czech Chamber of Tax Advisors submitted a paper for discussion to the Coordination Committee of the General Financial Directorate (GFD) and the Chamber of Tax Advisors dealing with when, from a VAT perspective, a transaction can be treated as a…

Czech Republic implements MLI into double taxation treaties

The Czech Republic has joined the states that have deposited their instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI, short for multilateral…

Changes to tax depreciation to support investment

Among other things, the government intends to reboot the economy with measures relating to corporate income tax, proposing a reduction of the tax depreciation periods for a selected group of tangible fixed assets, an increase of the limit for…

Current state of subsidy programmes

The end of the Operational Programme Enterprise and Innovation for Competitiveness (OPEIC) period is approaching. Below, we provide an overview of the calls currently open, mainly focusing on research and development and innovations in production.…

Reporting under DAC 6 postponed in the Czech Republic and other EU member states

The Czech Republic has utilised the option to postpone reporting duties arising from DAC 6 until the first months of 2021, as made possible by the COVID-19 DAC amendment adopted in response to the COVID-19 pandemic. Notably, some EU member states…

Czech digital tax: when and in what form to expect it

A proposal for the introduction of a digital tax has been before the chamber of deputies for several months now. The originally proposed effectiveness from mid-2020 has come and gone. The introduction of this tax is currently being debated again.

Last calls for Potential, Innovation and Application Programmes

In late August and early September, the Ministry of Industry and Trade announced the long-awaited last calls within the Enterprise and Innovation for Competitiveness Operational Programme (OPEIC). These include calls to participate in programmes…

Who will benefit from abolition of super-gross wage?

The government has decided to proceed with the long-promised abolition of the super-gross wage, while at the same time introducing the progression of personal income tax. The Chamber of Deputies is currently debating an amendment to tax laws, which…

Immovable property acquisition tax – to pay or not to pay?

The bill to abolish the immovable property acquisition tax is currently going through the legislative process. The Ministry of Finance had expected it to pass smoothly and become valid by the end of 2020. The related extraordinary measure of June…